Happiest Minds sit up for an important displaying in FY25, which will probably be a mixture of robust natural progress, together with consolidation play with current marquee clients like Macmillan Studying and inorganic progress via the acquisition of PureSoftware and now Aureus.
The acquisition, which is valued at an upfront money consideration of USD 8.5 million (about Rs 71 crore) and earn-outs primarily based on efficiency, is predicted to be accomplished by June 2024
IT firm Happiest Minds Applied sciences on Thursday mentioned its wholly-owned American subsidiary Happiest Minds Inc. has executed an settlement to amass 100 per cent stake in US-based Aureus Tech Techniques LLC. Based on a regulatory submitting, the acquisition, which is valued at an upfront money consideration of USD 8.5 million (about Rs 71 crore) and earn-outs primarily based on efficiency, is predicted to be accomplished by June 2024.
“Aureus strengthens our BFSI and Healthcare Business Teams, enhances our worth proposition in these verticals and contributes to our new buyer acquisition initiatives. We’re excited on the potential to cross-sell and up-sell infrastructure, safety, automation, analytics and GenAI choices to Aureus’s clients to speed up Happiest Minds’ progress,” Joseph Anantharaju, Govt Vice Chairman at Happiest Minds, mentioned.
Headquartered in Denver (Colorado), Aureus is a know-how options supplier with a presence within the US, India and Canada. It clocked a turnover of USD 8.3 million (about Rs 69 crore) in CY2023.
Happiest Minds Managing Director and Chief Monetary Officer Venkatraman Narayanan mentioned the corporate appears ahead to an important displaying in FY25, which will probably be a mixture of robust natural progress, together with consolidation play with current marquee clients like Macmillan Studying and inorganic progress via the acquisition of PureSoftware and now Aureus. “Aureus will get us a powerful model recall within the insurance coverage/reinsurance area with entry to a market chief with a compelling worth proposition and a strategic presence within the buyer’s long-term imperatives,” he mentioned.
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